NASDAQ
THE NASDAQ STOCK MARKET
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By Facsimile and First Class Mail
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June 23, 2004

Mr. Kevin J. McAndrew
Chief Financial Officer
Canterbury Consulting Group, Inc.
352 Stokes Road, Suite 200
Medford, NJ  08055

RE:     Canterbury Consulting Group, Inc. (the "Company")
        Nasdaq Symbol: CITI


Dear Mr. McAndrew:

For the last 30 consecutive business days, the bid price of the Company's common
stock has closed below the minimum $1.00 per share requirement for continued
inclusion under Marketplace Rule 4310(c)(4) (the "Rule").  Therefore, in
accordance with Marketplace Rule 4310(c)(8)(D), the Company will be provided 180
calendar days, or until December 20, 2004, to regain compliance.[1]  If, at
anytime before December 20, 2004, the bid price of the Company's common stock
closes at $1.00 per share or more for a minimum of 10 consecutive business days,
Staff will provide written notification that it complies with the Rule.[2]

If compliance with this Rule cannot be demonstrated by December 20, 2004, Staff
will determine whether the Company meets The Nasdaq SmallCap Market initial
listing criteria, Staff will notify the Company that it has been granted an
additional 180 calendar day compliance period.  Thereafter, if the Company has
not regained compliance within the second 180 day compliance period, but
satisfies the initial inclusion criteria, it may be afforded an additional
compliance period, up to its next shareholder meeting, provided the Company
commits: (1) to seek shareholder approval for a reverse stock split at or before
its next shareholder meeting and (2) to promptly thereafter effect the reverse
stock split.[3]  The shareholder meeting to seek such approval must occur no
later than two years from the date of this letter.  If the Company does not
regain compliance with the Rule and is not eligible for an additional compliance
period, Staff will provide written notification that the Company's securities
will be delisted.  At that time, the Company may appeal Staff's determination to
delist its securities to a Listing Qualifications Panel.


Sincerely,

/s/Tom Choe
------------
Tom Choe
Senior Analyst
Nasdaq Listing Qualifications




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[1] The 180 day period relates exclusively to the bid price deficiency.  The
Company may be delisted during the 180 day period for failure to maintain
compliance with any other listing requirement for which it is currently on
notice or which occurs during this period.

[2] Marketplace Rule 4310(c)(8)(E) states that, "Nasdaq may, in its discretion,
require an issuer to maintain a bid price of at least $1.00 per share for a
period in excess of ten consecutive business days, but generally no more than 20
consecutive business days, before determining that the issuer has demonstrated
an ability to maintain long-term compliance.  In determining whether to monitor
bid price beyond ten business days, Nasdaq will consider the following four
factors: (i) margin of compliance (the amount by which the price is above the
$1.00 minimum standard); (ii) trading volume (a lack of trading volume may
indicate a lack of bona fide market interest in the security at the posted bid
price); (iii) the market maker montage (the number of market makers quoting at
or above $1.00 and the size of their quotes); and, (iv) the trend of the stock
price (is it up or down)."

[3] Nasdaq would generally expect the reverse stock split to be effected as soon
as practical given regulatory notification requirements.  In that regard, Nasdaq
requires the filing of the Notification Form:  Listing of Additional Shares 10
calendar days prior to the record date for a reverse stock split.  This
notification should be filed prior to the shareholder meeting so as to
expedite the completion of the reverse stock split.  The notification form
can be found at http://www.nasdaq.com/about/listing_information.stm.